New York State Common Retirement Fund Sells 76,254 Shares of AppFolio, Inc. (NASDAQ:APPF)

New York State Common Retirement Fund decreased its holdings in AppFolio, Inc. (NASDAQ:APPF - Free Report) by 28.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 188,922 shares of the software maker's stock after selling 76,254 shares during the quarter. New York State Common Retirement Fund owned 0.52% of AppFolio worth $44,472,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Blue Trust Inc. boosted its holdings in shares of AppFolio by 85.7% in the 3rd quarter. Blue Trust Inc. now owns 117 shares of the software maker's stock valued at $29,000 after purchasing an additional 54 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of AppFolio by 589.5% in the 2nd quarter. GAMMA Investing LLC now owns 131 shares of the software maker's stock valued at $32,000 after purchasing an additional 112 shares in the last quarter. CWM LLC boosted its holdings in shares of AppFolio by 238.6% in the 2nd quarter. CWM LLC now owns 149 shares of the software maker's stock valued at $36,000 after purchasing an additional 105 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in shares of AppFolio by 291.3% in the 1st quarter. Advisors Asset Management Inc. now owns 180 shares of the software maker's stock valued at $44,000 after purchasing an additional 134 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in shares of AppFolio by 688.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 213 shares of the software maker's stock valued at $52,000 after purchasing an additional 186 shares in the last quarter. Institutional investors and hedge funds own 62.34% of the company's stock.

AppFolio Trading Up 0.3 %

NASDAQ:APPF traded up $0.65 during trading hours on Friday, hitting $208.52. 174,278 shares of the company were exchanged, compared to its average volume of 308,711. The stock has a market capitalization of $7.58 billion, a price-to-earnings ratio of 58.08 and a beta of 0.83. AppFolio, Inc. has a one year low of $164.29 and a one year high of $274.56. The company has a fifty day simple moving average of $222.26 and a 200 day simple moving average of $230.68.

AppFolio (NASDAQ:APPF - Get Free Report) last announced its earnings results on Thursday, October 24th. The software maker reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.26. The business had revenue of $206.00 million during the quarter, compared to analyst estimates of $199.11 million. AppFolio had a return on equity of 30.64% and a net margin of 17.26%. AppFolio's revenue for the quarter was up 24.5% compared to the same quarter last year. During the same period last year, the company earned $0.26 EPS. Equities research analysts predict that AppFolio, Inc. will post 3.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO William Shane Trigg sold 3,501 shares of the business's stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $218.98, for a total value of $766,648.98. Following the transaction, the chief executive officer now directly owns 81,699 shares of the company's stock, valued at $17,890,447.02. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Matthew S. Mazza sold 2,371 shares of the company's stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $221.22, for a total transaction of $524,512.62. Following the transaction, the insider now owns 39,980 shares in the company, valued at approximately $8,844,375.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William Shane Trigg sold 3,501 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $218.98, for a total transaction of $766,648.98. Following the transaction, the chief executive officer now directly owns 81,699 shares in the company, valued at $17,890,447.02. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,652 shares of company stock valued at $4,053,818 in the last three months. Insiders own 5.24% of the company's stock.

Analyst Ratings Changes

APPF has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods downgraded AppFolio from a "market perform" rating to an "underperform" rating and reduced their target price for the company from $255.00 to $193.00 in a report on Tuesday, October 15th. Piper Sandler reduced their target price on AppFolio from $300.00 to $265.00 and set an "overweight" rating on the stock in a report on Friday, October 25th. DA Davidson raised their price objective on AppFolio from $285.00 to $300.00 and gave the company a "buy" rating in a report on Friday, July 26th. StockNews.com downgraded AppFolio from a "buy" rating to a "hold" rating in a report on Thursday, August 22nd. Finally, Piper Sandler Companies reissued an "overweight" rating and set a $300.00 price objective on shares of AppFolio in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $261.75.

About AppFolio

AppFolio, Inc, together with its subsidiaries, provides cloud business management solutions for the real estate industry in the United States. The company provides a cloud-based platform that enables users to automate and optimize common workflows; tools that assist with leasing, maintenance, and accounting; and other technology and services offered by third parties.